Foreign investment continues to lead within the Iberian Peninsula representing around 61% of the total amount invested during the first quarter in commercial real estate. Within this group, German investors were the ones who invested the most: 19% of the whole investment.
The more than 793 million euro invested by German companies are divided by 4 operations. The largest was the purchase by ECE European Prime Shopping Centre Fund II of intu Asturias for 290 million euro. The second-largest transaction was concluded by German insurance company Allianz which paid 262.5 million euro to take part in the purchase of the 6 shopping centre portfolio managed by Sonae Sierra, on which Finnish company Elo also took part for the same amount. Another relevant operation was carried out by German management company Patrizia which concluded the acquisition of an 11 asset portfolio estimated at 213 million euro. The smaller transaction was carried out by German DER Touristik Hotels & Resorts which may have spent around 28 million to purchase the Galo Resort on the island of Madeira in Portugal.
The second place goes to American investors with a 13% share. The largest operation was the purchase of PREOF’s office portfolio by management company Cerberus for 155 million euro. American investors are followed by Finnish (6%), Dutch (5%), South-Koreans (4%), Swiss (4%), British (4%) and French (2%). Amongst the remaining foreign investors – listed under Other Countries – are Belgians (1%), Chileans (1%), Israelis (1%), Swedish (1%) and Italians (0.3%).
Despite the smaller share of domestic investment – 35% of the whole – when compared to foreign investment, the Spanish players are the ones who invested the most in Iberia, since around one-quarter of the investment was generated by them, representing more than one billion euro. Portuguese investors also represent a significant share of 9%.
It should be noted that the investors from 9 operations carried out during the first quarter were not disclosed. This group alone represents 4% of the entire commercial real estate investment.
Disclaimer: This information is based on public data gathered within the platform Iberian Property Data. All estimates were calculated based on registered public information and data from main consultants within the market.